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For an expenditure on refurbishment i saw a procedure that ” Review the invoice to decide whether its of capital or revenue nature ”
How will you understand that if you review the invoice ? What sort of indication will be there in the invoice.
Supplier invoices normally describe what the invoice is for. So if it said “redecoration” you would know that it was revenue expenditure. If it said “Installation of air conditioning” you know it is capital expenditure.
Thank you.
Another query :
Agree the balance as per bank statement to original year end bank statement.. So there are two bank statements ??
Agree teh reconciliations as per cash book to original year end cash book..
I dont understand this mention of Original year end ???
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